Likewise Mauombo lost heaps. All down to me for choosing to ignoring that one question.
Are the Board careful stewards of our money?
The answer was NO and I knew it. They have always set the bar low when it came to KPI/bonuses. Which equates to 'How can we get our grubby little mits into the till by doing as little as possible'.
There were outstanding loans owed to the company from board members when we carried out
our last CR.
As noted in my previous post, I really thought things would change when Brooke and Maher came on board but didn't happen. Ross the deal maker, what a joke.
The final kicker for me was management bonuses last year. I've sold down over 400k since then.
Now just another ex top twenty holder, and there's plenty of them over the years.
That old style of greed appears to be ingrained and pervasive no matter who comes on board.
The Board can say they're not responsible for the share price and that's mostly true, but they can take ownership for the illiquidity of the stock.
Look at their snail pace, blameless management style and track record over the last ten years. That's why the market is not interested. It's called accountability. A good start would be Ross gone.
CYP Price at posting:
23.0¢ Sentiment: Hold Disclosure: Held
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